passion commodities

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A SUMMER TRANNING REPORT

ON

EMPLOYEES SATISFACTION LEVEL

AT M.E.S.Pvt.Ltd

This Project Report is submitted in partial fulfillment for the requirement of

BACHLOR IN BUSINESS ADMINISTRATION from

DR. M.P.S. GROUP OF BUSINESS STUDIES

DR. B.R. AMBEDKAR UNIVERSITY, AGRA

Submitted to:- Submitted by:-

Mr. Shekhar Gupta Surbhi garg(100758)

(H.O.D of management dept.) BBA- 5th sem

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DR. MPS COLLEGE OF BUSINESS STUDIES,

AGRA


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PREFACEThe summer training is an integrating part of BBA course

during the course of trainees are expected to use and

apply their academic knowledge and gain a valuable

insight into cooperate culture with all its environment

operation complexities. The said training offers valuableopportunities to trainees to meet their academic

knowledge with real world situation.

I undertook the said training; I visited each department of

the industry and concentrated my training in marketing

where my focus was on understanding the various policies

and procedure followed during training and development

of the employees and their impact on various employees.

In this recent report, I have put my best efforts to compile

the information to the highest level aacuracy.

SURBHI GUPTA


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ACKNOWLEDGEMENT

I owe a great thanks to a great many people who helped ,

supported me while I was preparing this project.

My deepest thanks to MR. RAJIV RATAN, Director ofDr. MPS

COLLEGE OF BUSINESS STUDIESfor his constantencouragement and stimulating atmosphere provided to me.

A sincere thanks to Mr. PAWAN GUPTA who helped me with the

smallest issues in the project, Mr. SHEKHAR GUPTA (H.O.D.

Management) & Mr. RAHUL SHARMA (cordinator of BBA ) for

his valuable advice.

I also extent my sincere thanks to my family and friends for their

encouragement and support.

(SURBHI GUPTA)


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COLLEGE CERTIFICATE

This is to certify to Surbhi Gupta student of

BBA, Batch 2010-2013 has conducted empiricalresearch study and prepare this research report

on EMPLOYEES SATISFACTION LEVEL

AT M.E.S.P.L. This research report is

submitted in partial fulfillment of the award ofBBA degree, Dr.Bhim Rao Ambedkar

University, Agra. His work is original and

authentic.

Mr. Shekhar Gupta

HOD (Management)


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DECLARATION

I SURBHI GUPTA do hereby declare that the project

entitled EMPLOYEE SATISFACTION LEVEL AT

M.E.S.PVT.LTD carried out at M.E.S.P.L., AGRA is

an original work carried out by me under the guidance of

Mr. Pradeep Singh (External Guide) and Mr. Vinay

banshal (Internal Guide) and has not been presented earlier

for any other university for the award of degree in

BACHLOR OF BUSINESS ADMINISTRATION

Place: Agra SURBHI GUPTA


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CONTENTS


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OBJECTIVES

PRIMARY OBJECTIVE

To know about the satisfaction level of employees at

M.E.S.P.L

SECONDARY OBJECTIVE

To know about the working environment of the M.E.S.P.L


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Company profile

Passion group was initially founded in 1990 as a small broking house. Focus

on customer-service-attitude, ethical and transparent business practices,respect for professionalism, research-based value investing andimplementation of cutting-edge technology has enabled the group to blossominto a leading group in financial market today we are a well diversifiedfinancial services firm offering a range of financial products and services.

We have a diversified client base that includes retail customers(including High Net worth Individuals) and corporate clients.Utilizing the wide experience in this field; we are extremelyconcerned about the needs of our clients and business partners.

We work to make concrete relationships and give completesatisfaction to our clients through a team of trained wealthmanagers in different parts of the country. Passion group is highlyreliable and one of the leading financial service group in UttarPradesh, Gujarat, Maharashtra, Bihar, Jharkhand, Uttaranchal,Delhi, Madhya Pradesh, Chhattisgarh, Rajasthan, Punjab, Assam,Orissa and Kerala. Passion group is fast expanding itself in thefields of Export & Import, Real Estate, Fabrics, Home Appliances,

Financial Services and Education.


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Mission and vision

VISSION

To create long term economic value and trust of our valued clients and partners

by providing superior financial solutions & products by our teamwork, efficiency

and integrity.

MISSIONGrowth comes automatically if you value your commitments and care your

customers. No one can grow alone but as team there is no end to Growth and

Rise.


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PASSION GROUP COMPANIES

PASSION Stock Broking (P) Ltd

Passion Stock Broking Limited provides opportunities for the customer by opening up investment

Panorama. Our offerings include stock broking services for stock trading through the branch and

Internet and Portfolio management services

PASSION Commodities (P) Ltd

Commodities market essentially represents another kind of organized market just like the stock

market and the debt market. "Why Commodities?" is an inevitable question that arises in one's mind.

Well, commodity derivatives provide unique money making opportunities to a wider spectrum of

market participants.

PASSION Infra Promoters (P) Ltd

Passion Infra Promoters is a venture of the Passion Group. We are known to be a professionally

managed organization with a stable and confident business model. Passion has created a brand name

that stands for trust across our entire clients.

PASSION Home Appliances (P) Ltd

We are a group committed to produce the best quality and best value appliances and white goods. To

achieve this, we constantly endeavor to exceed our customer expectations. The company has a huge

Manufacturing infrastructure base with a plant in Ghaziabad

PASSION Financial Services

Passion group committed world class wealth services to their clients in various segment, like Life &

Non Life Insurance, Mutual Funds, Fixed Deposits, Bonds, IPO, Portfolio management etc. Passion

focus on long term validity of their relationship with their valued clients.


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PASSION DEVELOPERS

Passion Developers is a venture of the Passion Group. We are known to be a professionally managed organization

with a stable and confident business model. Passion has created a brand name that stands for trust across our entire

clients.

Committed to excellence and craftsmanship, we focus meticulously on every detail of the clients needs. Our projects

are situated in prime locations. We bring designs to life and turns dream into reality. We delight in catering to the

special needs of our clients. And through it all, our aim is to give each of our clients the best value for their money.

We invite you to join our ever-growing community of satisfied customers.

PASSION STOCK BROKING

Passion Stock Broking Limited provides opportunities for the customer by opening up investment Panorama.

Our offerings include stock broking services for stock trading through the branch and Internet and Portfolio

management services.

We are also a depository participant with National Securities Depository Limited (NSDL) and Central Depository

Services Limited (CDSL), providing dual benefit services wherein the investors can avail our stock broking services

for executing the transactions and the depository services for settling them.

We have a full-fledged research division which studies in-depth stock market analysis. This is combined with a strong

and well networked sales force which helps deliver current and up to date market information and news.

Products and services

IPO

Book Building and Fixed Price Issue are the two types of Initial Public Offerings (IPOs) through which a public

company can raise money in the capital market.

In a book building public issue, the bids are received at different price levels and the demand for the issue is built up

over a period of time. Depending upon the bids received at different price levels the issue price is ascertained. In a

fixed price issue, the issue price is pre ascertained by the issuer. PASSION GROUP is engaged in IPO and Follow on

Public offer (FPO) distribution and also serves those who are interested in investing in IPO trade. PASSION GROUP


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provides top-notch assistance, minute to minute information, details of company, stock etc. to ensure that the

customer invests in right IPO at right levels in order to obtain a high return from his investment. PASSION GROUP

also provides online IPO services to enable you to invest in IPO through the internet. PASSION GROUP provides

top-notch assistance, minute to minute information, details of company, stock etc. to ensure that the customer invests

in right IPO at right levels in order to obtain a high return from his investment. PASSION GROUP also provides onlineIPO services to enable you to invest in IPO through the internet.

Bond

A bond is a debt security, in which the authorized issuer owes the holders a debt and, depending on the terms of the

bond, is obliged to pay interest (the coupon) to use and / or to repay the principal at a later date, termed maturity. A

bond is a formal contract to repay borrowed money with interest at fixed intervals. Thus a bond or fixed income is like

a loan: the holder of the bond is the lender (creditor), the issuer of the bond is the borrower (debtor), and the coupon

is the interest. Bonds provide the borrower with external funds to finance long-term investments, or, in the case of

government bonds, to finance current expenditure. Certificates of deposit (CDs) or commercial paper are considered

to be money market instruments and not bonds.

Bonds and stocks are both securities, but the major difference between the two is that (capital) stockholders have an

equity stake in the company (i.e., they are owners), whereas bondholders have a creditor stake in the company (i.e.,

they are lenders). Another difference is that bonds usually have a defined term, or maturity, after which the bond is

redeemed, whereas stocks may be outstanding indefinitely. An exception is a consol bond, which is a perpetuity (i.e.

bond with no maturity). Bonds are generally issued by government organizations, public authorities, credit institutions,

companies and supranational institutions in the primary markets. PASSION GROUP is engaged in all types of bond

distribution and a customer can take exposure in debt market easily through us while also taking benefit of the

Income tax act under section 80C & 80CCF.

FIXED DEPOSITES

Company Fixed deposits earn a fixed rate of return over a period of time. Financial institutions and Non-Banking


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Finance Companies (NBFCs) also accept such deposits. Deposits thus mobilized are governed by the Companies

Act under Section 58A. These deposits are unsecured, and hence incase of any default by the Company, the investor

cannot sell the company to recover his capital, thus making it a risky option of investment.

Company Fixed Deposits are adequate for regular income with the option to receive monthly, quarterly, halfyearly,

and annual interest income. Moreover the interest rate offered is higher than banks. Performance of the companiesshould be reviewed at maturity. This helps in deciding whether the deposit should be renewed or not. One should

also keep track of these companies by checking their Balance Sheet, Share prices.

NSEL E- SERIES

E series is a new form of commodities investment that enables retail investors to trade and invest in commodities like

they invest in the equities. This is a unique market segment, which functions just like cash segment in equities, but

offers commodities like Gold, Silver, Platinum, Copper, Lead etc. in the demat form in small denominations.

Systematic investments in E-series products promote savings in a secured way offering ease of transaction and

flexibility of trade timings. This instrument provides ample opportunity to the retail investors as secured investment

and also offers a product basket diversification.

Salient features of E-series investments are as under:

Buy, hold and sell commodities in demat form

Invest in smaller denomination (eq: min. investment upto 1 gm gold, 100 gm Silver etc.)

Physical delivery of accumulated demat units at multiple centres available

Uniform pan India transparent pricing

No AMC charges, no impurity issues, no safety and security concerns

No storage costs

e-Gold, e-Silver, e-Copper, e-Zinc, e-Lead, e-Nickel and e-Platinum are Shariah compliant

commodity investment products

Option of Systematic Investment Plan (SIP) to promote savings

A cost effective and risk free avenue for portfolio diversification

Extending trading hours from 10 am to 11.30 pm.


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INTREST RATE DERIVATIES

An interest rate derivative is a derivative where the underlying asset is the right to pay or receive a notional amount of

money at a given interest rate. These structures are popular for investors with customized cash flow needs or specific

views on the interest rate movements (such as volatility movements or simple directional movements) and are

therefore usually traded Over The Counter (OTC).

The interest rate derivatives market is the largest derivatives market in the world. The Bank for International

Settlements estimates that the notional amounts outstanding in June 2009 were US$437 trillion for OTC interest rate

contracts, and US$342 trillion for OTC interest rate swaps. According to the International Swaps and Derivatives

Association, 80% of the world's top 500 companies as of April 2003 used interest rate derivatives to control their cash

flows. This compares with 75% for foreign exchange options, 25% for commodity options and 10% for stock options.

Modeling of interest rate derivatives is usually done on a time-dependent multi-dimensional Lattice ("tree") built for

the underlying risk drivers, usually domestic or foreign short rates and foreign exchange market rates, and

incorporating delivery- and day count conventions. Specialized models are also often used. The trading in Interest

Rate Futures was launched on the National Stock Exchange of India (NSE) on 31st August 2009 and will be

launched shortly on MCX Stock Exchange (MCX-SX). PASSION GROUP has membership of both these exchanges

to offer interest rate derivatives product to its customers through Exchange Traded Interest Rate Futures (ETIRF)

which are standardized interest rate contracts traded on the exchange.

The benefits of Interest rate derivatives are as under:

FIIs and NRIs are permitted to trade in ETIRF

Provides flexibility of multiple securities deliveries for one contract

Provides flexibility of timing for securities deliveries

Provides flexibility between square-up and delivery settlement of position.


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CURRENCY DERIVATIES

A currency derivative is a contract between the seller and the buyer, whose value is to be derived from the underlying

asset, the currency amount. A derivative based on currency exchange rates is a forward contract which stipulates the

rate at which a given currency can be exchanged for another currency as at a future date. Currency derivative is

extremely beneficial for importers, exporters, currency traders, banks, currency brokers, money changers,

arbitrageurs, companies having exposure in foreign currency and investors.

PASSION GROUP is a trading member of NSE and provides trading platform for trading in currency pairs like INR-

USD, INR-GBP, INR-EUR and INR-JPY. Few of the salient features of Currency trading are:

Small orders can be executed up to 1 contract or 1000 USD without any additional cost

Complete Transparency of Quotes, Market Price and Price Discovery

Foreign Currency exposure not required to trade in the currency futures

Synchronization with International Market

Low Margins

Large liquid market

PASSION GROUP can enhance your trading experience in Currencies by:

Excellent trade execution capabilities on NSE currency exchange.

Wide array of customer friendly online trading platforms

Dedicated dealing desk for call-n-trade customers

Forex research report

Forex hedging strategies.

MUTUAL FUND


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Overview

A Mutual Fund is a professionally managed type of collective investment scheme that pools money from many

investors to buy stocks, bonds, short-term money market instruments, and/or other securities. Mutual funds are

becoming the most popular investment vehicles offering various kinds of schemes with different investment

objectives. Investments through Mutual funds are one of the safest, easiest and convenient ways of making

successful investments. The investments are in congruence to the laid down investment objectives securing the goals

& objectives of the unit holders.

Mutual Funds are good investment alternative which offers the ideal platform to participate in the Equity & Debt

market indirectly through professional management of the Mutual fund AMC. PASSION GROUP, through its team of

experienced mutual fund distributors, makes it simple for you to evaluate and select the right Mutual fund for

investment by assisting you to understand the cycle, past performance, expected returns, details and composition of

Mutual Funds and their markets so that you can make a diminutive amount multiply in value.

PASSION GROUP can cater to your needs for investing in Mutual Funds by providing one of the best Mutual Fund

distribution channels with our research on which Mutual fund scheme to invest in among the following:

Equity linked Funds

Debt Linked Funds

Short Term & Long Term Gilts

Income Funds

Liquid Funds

Hybrid Funds

Fixed Maturity Plans (FMDs)

INSURANCE


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Overview

Insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss.

Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for

payment. An insurer, or insurance carrier, is a company selling the insurance; the insured, or policyholder, is the

person or entity buying the insurance policy. The amount to be charged for a certain amount of insurance coverage is

called the premium. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field

of study and practice.

The transaction involves the insured assuming a guaranteed and known relatively small loss in the form of payment

to the insurer in exchange for the insurer's promise to compensate (indemnify) the insured in the case of a financial

(personal) loss. The insured receives a contract, called the insurance policy, which details the conditions and

circumstances under which the insured will be financially compensated.

Overview

Life Insurance

General Insurance

Life Insurance

Life insurance is a contract between an insurance policy holder and an insurer, where the insurer promises to pay a

designated beneficiary sum of money (the "benefits") upon the death of the insured person. Depending on the

contract, other events such as terminal illness or critical illness may also trigger payment. The policy holder typically

pays a premium, either regularly or as a lump sum. Other expenses (such as funeral expenses) are also sometimes

included in the benefits.

The advantage for the policy owner is "peace of mind", in knowing that the death of the insured person will not result

in financial hardship for loved ones and lenders. Life policies are legal contracts and the terms of the contract

describe the limitations of the insured events. Specific exclusions are often written into the contract to limit the liability

of the insurer; common examples are claims relating to suicide, fraud, war, riot and civil commotion.

Life-based contracts tend to fall into two major categories:

Protection policies - designed to provide a benefit in the event of specified event, typically a lump sum payment.

A common form of this design is term insurance.

Investment policies - where the main objective is to facilitate the growth of capital by regular or single premiums.

Common forms are whole life, universal life, Endowment plans, money back plans.

Life Insurance FAQs:


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1. How do I know if the agent is authorized to sell life insurance policy?2. What is the difference between a participating and non-participating policy?3. How does a life insurance company evaluate my risks?4. What will happen to my policy if I fail to pay my premium on time?5. Can I get full refund of premium if I cancel my policy within the free look period?

Yes, under the free look period, you can cancel your life insurance policy within 15 days by returning the policy to the

life insurance company after you have received the policy document.6. Should I cancel my existing policy and replace it with another?7. Can I take two policies and get claims under both of them?8. Is a life insurance sales illustration a legal document, like a contract?9. Should I pay my premiums through the agent?10. How much will I be paying for my insurance cover and will I be able to afford the premiums over the longterm?11. What happens if I fail to make the required premium payments?12. How do I make a claim?13. Which are the Traditional Life Insurance instruments available?

Overview

Life Insurance

General Insurance

General Insurance

Insurance other than Life Insurance falls under the category of General Insurance. General Insurance comprises of

insurance of property against fire, burglary etc, personal insurance such as Accident and Health Insurance, and

liability insurance which covers legal liabilities. There are also other covers such as Errors and Omissions insurance

for professionals, credit insurance etc. Non-life insurance companies have products that cover property against Fire

and allied perils, flood storm and inundation, earthquake and so on. There are products that cover property against

burglary, theft etc. The non-life companies also offer policies covering machinery against breakdown, there are

policies that cover the hull of ships and so on. A Marine Cargo policy covers goods in transit including by sea, air and

road. Further, insurance of motor vehicles against damages and theft forms a major chunk of non-life insurance

business.

Most general insurance covers are annual contracts. However, there are few products that are long-term. It is

important for proposers to read and understand the terms and conditions of a policy before they enter into an

insurance contract. The proposal form needs to be filled in completely and correctly by a proposer to ensure that the

cover is adequate and the right one.

FAQs :1. What is insurance?2. What is general insurance?


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3. Why should one insure ?4. Who should buy general insurance?5. What kinds of policies are there?6. How much should I insure for?7. Can I take two policies and get claims under both of them?8. On what basis is claim paid?9. What is the periodicity of premium payments?

10. Why do different people have different premiums ?11. If I buy a policy and dont make a claim, it is a loss. So, why should I buy insurance?12. If there are problems with claims what can I do?

PASSION COMMODITIES

Explore the whole new world of opportunities with Commodity Trading

Commodities market essentially represents another kind of organised market just like the stock market and the debt

market. Why Commodities? is an inevitable question that arises in ones mind. Well, commodity derivatives provide

unique money making opportunities to a wider spectrum of market participants like investors, importers,

exporters, producers, corporates etc. However, commodities market, because of its unique nature lends to various

benefits.What can commodities market offer?

If you are an investor, commodities futures represent a good form of investment because of the following reasons..

High Leverage The margins in the commodity futures market are less than the F&O section of the equity

market.

Less Manipulations - Commodities markets, as they are governed by international price movements are

less prone to rigging or price manipulations.

Diversification The returns from commodities market are free from the direct influence of the equity and

debt market, which means that they are capable of being used as effective hedging instruments providing better

diversification.

If you are an importer or an exporter, commodities futures can help you in the following ways

Hedge against price fluctuations Wide fluctuations in the prices of import or export products can

directly affect your bottom-line as the price at which you import/export is fixed before-hand. Commodity futures

help you to procure or sell the commodities at a price decided months before the actual transaction, thereby

ironing out any change in prices that happen subsequently.

If you are a producer of a commodity, futures can help you as follows:


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Lock-in the price for your produce If you are a farmer, there is every chance that the price of your

produce may come down drastically at the time of harvest. By taking positions in commodity futures you can

effectively lock-in the price at which you wish to sell your produce

Assured demand - Any glut in the market can make you wait unendingly for a buyer. Selling commodity

futures contract can give you assured demand at the time of harvest.If you are a large scale consumer of a product, here is how this market can help you:

Control your cost If you are an industrialist, the raw material cost dictates the final price of your output.

Any sudden rise in the price of raw materials can compel you to pass on the hike to your customers and make

your products unattractive in the market. By buying commodity futures, you can fix the price of your raw

material.

Ensure continuous supply Any shortfall in the supply of raw materials can stall your production and make you

default on your sale obligations. You can avoid this risk by buying a commodity futures contract by which you are

assured of supply of a fixed quantity of materials at a pre-decided price at the appointed time.

PASSION DISTRIBUTION SERVICES

The Wealth Management team at Passion Group works with the objective of providing our clients with a bouquet of

smart investment products each analysed and evaluated meticulously and thereafter blended together to precisely

meet your unique investment needs. We have enviable research team that spans multiple asset classes bringing

insightful research to our team of wealth managers. The proximity and connectivity of our

Management with industry enables us to view in closer detail, the companies we study for investing.

Our approach is entirely client-centric, which means that the services and products will be tailored to suit your specific

requirements, while we build the wealth management plan around you. We draw from our expertise spanning every

aspect of wealth management to create solutions for exclusively for you. What makes us truly different is what we do

after you make the investments, we constantly monitoring of your investments, fine tuning them to dynamic external

scenario of today.

Our team of experts from every aspect of the wealth management process works with integrity and diligence, bringing

with them decades of experience to create and manage winning investment plans.

Passion Group is committed to world class wealth services to their clients in various segments link Life & Non Life

Insurance, Mutula Funds, Fixed Deposits, Bonds, IPO, Portfolio Management etc. Passion Group focusses on long

term validity of their relationship with their valued clients.


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PASSION DEVELOPERS

Passion Developers is a venture of the Passion Group. We are known to be a professionally managed organization

with a stable and confident business model. Passion has created a brand name that stands for trust across our entire

clients.Committed to excellence and craftsmanship, we focus meticulously on every detail of the clients needs. Our projects

are situated in prime locations. We bring designs to life and turns dream into reality. We delight in catering to the

special needs of our clients. And through it all, our aim is to give each of our clients the best value for their money.

We invite you to join our ever-growing community of satisfied customers.

Disclaimer

Passion Commodities Pvt. Ltd. tries to ensure that all information and materials, whether in relation to the products,

services, facilities, offerings or otherwise provided as part of this website is correct at the time of inclusion on the web

site, it does not guarantee the accuracy of the Information. Passion Commodities Pvt. Ltd. makes no representations

or warranties as to the completeness or adequacy or accuracy of Information and expressly disclaims liability for any

errors or omissions or delays in updating this information.

The persons receiving the information are supposed to make their own determination as to its suitability for their

purposes prior to use or in connection with the making of any decision. No Information at this web site shall constitute

an invitation to invest in any security or financial product. Any use of this website or the Information is at your own

risk.

Nothing contained herein is to be construed as a recommendation to use any product or process, in conflict with any

patent, or otherwise and Passion Commodities Pvt. Ltd. makes no representation or warranty, express or implied

that, the use thereof will not infringe any patent, or otherwise.

Passion Commodities Pvt. Ltd. along with its directors, employees, associates or other representatives and its

Affiliates along with its directors, employees, associates or other representatives shall not be liable for any damagesor injury arising out of or in connection with the use of the Website or its non-use including non-availability,

compensatory, direct, indirect or consequential damages, loss of data, income or profit, loss of or damage to property

(including without limitation loss of profits, loss or corruption of data, loss of goodwill, work stoppage, computer failure

or malfunction, or interruption of business; under any contract, negligence, strict liability or other theory arising out of

or relating in any way to the Website, site-related services, or any products or services and claims of third parties

damages or injury caused by any performance, failure of performance, error, omission, interruption, deletion, defect,

delay in operation or transmission, computer virus, communications line failure, theft or destruction or unauthorized


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access to, alteration of, or use of information, whether resulting, in whole or in part, from or relating to any of the

services offered or displayed by Passion Commodities Pvt. Ltd. on the Website.

The Services on the Website do not constitute an offer to sell or a solicitation to any person in any jurisdiction where it

is unlawful to make such an offer or solicitation. These Service are not intended to be any form of an investment

advertisement, advice or information and has not been registered under any commodities and/or commodities law of

any foreign jurisdiction and is only for the information of any person in any jurisdiction where it may be lawful to

provide such information, otherwise the same shall not be considered an information. The distribution of this Service

or content in other jurisdictions may be restricted by law and the persons who access the Service should inform

themselves about, and observe any such restrictions.

Use of the website and its contents is at own risk of the person using the web site. The data and information provided

on the website is not advice, professional or otherwise, and should not be relied upon as such. Neither the

information, nor any opinion contained in this website constitutes a solicitation or offer by Passion Commodities Pvt.

Ltd. to buy or sell any commodities or other financial instruments or provide any investment advice. Passion

Commodities Pvt. Ltd. or their employees have or may have an outstanding position or holding in the commodities orother related investments of issuers and companies mentioned herein. The investments discussed or recommended

in the analysis, research reports, etc. may not be suitable for all investors. Investors must make their own investment

decisions based on their own specific investment objectives and financial position and using such independent

professional advisors as they believe necessary. Information herein is believed to be reliable but Passion

Commodities Pvt. Ltd. does not warrant its completeness or accuracy. The content of the articles and the

interpretation of data are solely the personal views of the contributors and do not in any way reflect the views of

Passion Commodities Pvt. Ltd. Users are advised to use the articles and other data in the Website only as

information.

This website/information is provided on an "as is" and "where-is" basis, without any warranty. Passion commoditiespvt. Ltd., for itself and any third party providing materials, services, or content to this website, makes no

representations or warranties, either express, implied, statutory or otherwise of merchantability, fitness for a particular

purpose, or non-infringement of third party rights, with respect to the website, the information or any products or

services to which the information refers. Passion commodities pvt. Ltd. Will not be liable to you or any third party for

any damages of any kind, including but not limited to, direct, indirect, incidental, consequential or punitive damages,

arising from or connected with the site, including but not limited to, your use of this site or your inability to use the site,

even if passion commodities pvt. Ltd. Has previously been advised of the possibility of such damages

This research based service is provided by in house team of experts.

The Service is for information purposes only. Passion Commodities Pvt. Ltd. makes no representations or warranties

regarding the accuracy, completeness or reliability of any information provided. Passion Commodities Pvt. Ltd.

assumes no responsibility for errors or omissions in the Service. Users should conduct their own research before

acting on any information received through the Service. Passion Commodities Pvt. Ltd .shall not be responsible or

liable for any losses, costs, expenses, charges, including notional losses/lost opportunities incurred by a User as a

result of acting or non acting on any information/material received through the Service. All information that may be

provided on this Service or part thereof shall be on an "as is" basis. Passion Commodities Pvt. Ltd. shall not be held


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responsible or liable for any interruption to the Service resulting from breakdown of communication network, non-

availability of Service due to technical defects, or other infrastructure related issues. Passion Commodities Pvt. Ltd.

shall not be held responsible or liable for non-access or limited access to the Service. All information/material

provided as part of the Service shall be for personal use of the Users and not for commercial use. No User shall

distribute, disseminate or part with any information/material received from the Service to any person or entity whether

in oral, written, electronic or digital form.

It is expressly agreed by the User that exclusive jurisdiction for any dispute with Passion Commodities Pvt. Ltd.

resides in the courts at Kanpur and the User expressly consents to the exercise of jurisdiction in the courts of Kanpur

in connection with any such dispute. These terms shall be governed by and construed in accordance with the laws of

India.

All investments and investment related decisions are at the sole discretion of the User.

The views, charts, trading calls and investment calls expressed/given by investment experts or analysts or persons

claiming to be domain experts on the Service are their own, and not that of Passion Commodities Pvt. Ltd. or itsmanagement. Passion Commodities Pvt. Ltd. advises Users to check with certified experts before taking any

investment decision. Passion Commodities Pvt. Ltd. does not guarantee the accuracy, adequacy or completeness of

any information and is not responsible for any errors or omissions or for the results obtained from the use of such

information or the Service. Passion Commodities Pvt. Ltd. especially states that it has no financial liability whatsoever

to any

User on account of the use of information/material provided as part of the Service.

Users are advised to understand that the Service can fail due to failure of hardware, software, mobile and Internet

connections. While Passion Commodities Pvt. Ltd. will endeavor that the Services are accessible at most times, the

access to the Service is the responsibility of the User or his internet service provider. Service may be delayed and/or

not be available to the User on certain days, owing to technical reasons, and Passion Commodities Pvt. Ltd. and/or

its employees, officers, and directors and/or recognizant shall not be held responsible for the same.

Trading in futures and the like is inherently risky and User agrees to assume complete and full responsibility for the

outcomes of all trading decisions that User makes, including but not limited to loss of capital. None of the information

made available on the Service should be construed as an offer to buy or sell commodities or derivatives or other

financial instruments nor advice to do so. User should not construe any information provided through the Service to

constitute investment advice. It is purely informational in nature.

The User may use the information as a resource only to further his own research on all featured commodities,

sectors, markets and information received. Nothing disseminated through the Service should be considered as

investment advice.

All investments and investment products are subject to governmental, regulatory and relevant Exchange rules,

regulations and guidelines and other applicable statutes.


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Any contests/promotions featured as part of the Service shall be subject to their own rules, and regulations and Users

shall be bound by the same. And any terms are subject to change without prior notice.

By subscribing to the Service either electronically or otherwise, the User agrees to terms and amendments as may be

applicable. The Service may be withdrawn or discontinued without prior notice.

By accepting the terms and/or accessing the Service, User consents to receive advertising or promotional material in

electronic form or otherwise whatsoever.

Passion Commodities Pvt. Ltd. does not accept any responsibility or liability for any advertising or promotional

material that may be received by the User as part of the Service and the same lies specifically with the advertiser.

Passion Commodities Pvt. Ltd. does not accept any responsibility or liability or guarantee the performance or

merchantability of any product or services offered by any party pursuant to any advertisement or promotional material

that may be received by the User as part of the Service and the same lies specifically with the advertiser.

This Service is specifically for Users in the territory of India. Although access may be available to Users outside India,

though not expressly granted, Passion Commodities Pvt. Ltd. shall have no legal liabilities whatsoever in any laws of

any jurisdiction other than India.

The Service contains material, including text, graphics and sound, which is protected by copyright and/or other

intellectual property rights. All copyright and other intellectual property rights in this material are either owned by

Passion Commodities Pvt. Ltd. or have been licensed to Passion Commodities Pvt. Ltd. by the owner(s) of those

rights so that it can use this material as part of this service or are owned by Recognizant. Each party retains copyright

on its own Information, including text, graphics and sound and all trademarks displayed on this service are owned by

Recognizable or Passion Commodities Pvt. Ltd. and/or used under license by Passion Commodities Pvt. Ltd.

affiliates.

The information set out in the report, if any made available, has been prepared by the author based upon information

available to him and/or made available to him and/or from information available in the public domain. No independent

verification has been made of such information or sources. This report is for information purposes only. It has not

been prepared with regard to the specific investment objectives, financial situations and/or particular needs of any

specific person who may receive this report. Investors should seek advice from Financial Advisors/Certified Financial

Planners/Financial Experts before investing their funds or acting on any investment strategies that may have been

discussed or recommended in this report. No reliance may be placed for any purpose whatsoever on the information

contained in this report or on its completeness. Readers should make appropriate enquiries before investing in any

product or services.

Passion Commodities Pvt. Ltd. or any of its associate companies (collectively referred to as "Passion group of

companies do not guarantee the accuracy or correctness of the information provided in the report made available or

that any forecasts or projections made in the report will be realized. Passion Commodities Pvt. Ltd. does not accept

any responsibility for any errors whether caused by negligence or otherwise or for any loss or damage incurred by

anyone in reliance on anything that is included in the report. The recipient/investor shall solely be responsible for


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losses, damages, costs and other consequences resulting directly or indirectly from using any information made

available in the report. Passion Commodities Pvt. Ltd. shall not be responsible for any acts of omission or

commission made by readers or investors based on reliance upon the contents of the report.

The report does not constitute nor is it intended to constitute an offer to buy or sell or a solicitation to an offer to buy

or sell commodities or derivatives or mutual fund units or any financial products or an attempt to influence the opinion

or behavior of investors or recipients. The views expressed herein may not necessarily be the views of Passion

Commodities Pvt. Ltd, its directors, officers, or employees.

Neither this report nor Passion Commodities Pvt. Ltd. has been registered in any jurisdiction. The distribution of this

report in certain jurisdictions may be restricted or prohibited and accordingly, persons who come into possession of

this report are required to inform themselves about, and to observe, any such restrictions.

The information in the report reflects prevailing conditions as of date of publication and is subject to change from time

to time. Any facts or figures mentioned in the report are merely indicative and readers/investors should obtain correct

facts and figures before making any investment decisions.

The information contained in the report may not be transmitted to, copied or distributed, in part or in whole, to any

other person or to the media or reproduced in any form, without the prior written consent of Passion Commodities

Pvt. Ltd.

Note: We, Passion Commodities Pvt. Ltd, along with all our group companies, subsidiaries, associates, employees

and executors take no responsibility and accept no liability for any relationship that may develop on the basis of

content/reports displayed on the website.

Privacy policyPassion Commodities Pvt. Limited acknowledges the importance of protecting your personal, financial andtransaction information. Passion Commodities assure you that the information made available to us will be

kept in strict confidentiality and we will use the information only to help us to service your account better, to

provide you with products and services that you may have requested, and to inform you about other

products and services that may be of interest to you. We do not sell your personal information to third

parties.

Passion Commodities shall use your personal information to improve our services to you and to keep you

updated about our new products or information that may be of interest to you. The information collected

from you would be used in the right spirit and context in which it is intended to be used.

Passion Commodities assures to protect the personal details received from you with the same degree of

care, to prevent the unauthorized use of the information as we protect our own confidential information of a

like nature.However under certain circumstances Passion Commodities may be required to share the

information with the third parties, where we feel they can contribute to add value and improve the quality of

services provided by us to you. Passion Commodities shall take all reasonable steps to ensure that the

confidentiality of your information is maintained by imposing strict confidentiality requirements on all the

third parties with whom we may part with the information.

Passion Commodities may also have to share your personal information wherever it is required to be


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disclosed under law to any of the governmental/statutory agency or regulatory bodies.

Terms and conditions

This website (the Website) is operated and maintained by Passion Group. Access is provided only in accordance

with the following Terms and Conditions (the Terms). In this policy we, us and our shall mean Passion Group.

USE OF THE WEBSITE

This Website is for your personal use only. You are wholly responsible for use of the Website by any person using

your computer and you must ensure that any such person complies with these Terms.

You may access the Website for your own personal use for the facilities offered. You may not otherwise copy, modify,

distribute, transmit, reproduce, display, licence, alter, store, publish or create imitative works from any part of this

Website. That includes but not limited to any text, images and design for public or commercial purposes.

COPYRIGHT

All information contained in this Website is owned by or licensed to Passion Group unless otherwise noted and is

copyright protected.

CHANGES TO THE TERMS

The information, material and content provided in the Website may be changed at any time without notice. Changes

may be made to the Terms at any time without notice and you agree to review the Terms regularly and your

continued access to or use of the Website will mean that you agree to any changes.

LIMITATION OF LIABILITY

Whilst we have taken reasonable steps to ensure the accuracy, currency, availability, correctness, completion,

suitability, reliability, performance, freedom from viruses or timeliness of the content or services contained within this

Website, information is provided on an as is, as available basis and we do not give or make any warranty or

representation of any kind, whether express or implied. Furthermore, but without limiting the exclusion, the

information contained in this Website is intended for private individuals and companies who need to make physical

delivery overseas payments in foreign currency against genuine payment liabilities only and not for speculativepurposes.

The use of the Website is at your own risk. We shall not be liable for any loss or damage (including without limitation

loss of profit or loss of use) whatsoever and howsoever arising as a result of your access and use of, or reliance on

the information contained on this Website or any information transmitted by way of this Website, to the maximum

extent permitted by law.


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We do not represent or warrant that the Website will be available to meet your requirements, that you will receive the

services for which you register, that access will be uninterrupted, not delayed, malfunction, experience errors or

omissions or loss of transmitted information, that no viruses or other contaminating or destructive properties will be

transmitted or that no damage will occur to your computer system. You are solely responsible for protecting your own

equipment and for implementing adequate precautions to scan for viruses or other destructive properties.

LINKED SITES

We may provide access to other third party websites and do so for information purposes only and solely as a

convenience to visitors of the Website. We have no control over these links and do not verify the accuracy of the

information and make no warranty, either express or implied, as to their content. You use these links at your own risk

and we will not be responsible or liable for any damages or in other way in connection with linking. In creating

hypertext links to any third party website, we are not recommending, endorsing or providing any assurances as to its

standing.

We make no representations or warranties regarding the accuracy, functionality or performance of any third partysoftware that may be used in connection with the Website or whether they are virus free.

EMAIL

By communicating with us over the Internet by email you accept the risk that the message could be intercepted, lost

or altered by third parties, as the Internet may not be secure. A receipt acknowledgement of an email does not

guarantee that we have received your message, only that the message has been routed into the Internet. We are not

responsible for email and will not be liable to you or anyone else for any damages or otherwise in connection with any

message sent by you to us, or any message sent by us to you over the Internet.

NO OFFER

The information on this Website or opinion contained therein, accompanying documents or transmissions are for

information purposes only and do not, nor should be construed as, containing financial advice nor intended as a

solicitation for funds or a recommendation to trade. Any pricing displayed is indicative and does not, and is not

intended to, constitute either an offer to buy or sell or a representation that a purchase or sale can be affected at that

price.

ACCESS RESTRICTION

We, at our sole discretion, reserve the right to deny you access and use of any part of the Website without notice.

USERS AND GOVERNING LAW

The Website is currently intended to be accessed from within the United Kingdom and we make no representation

that the information therein is appropriate for any other location or that it complies with the laws of any other country.

If you access this Website from a country that doesnt allow it, then you should observe any such local legal


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restrictions and not use it. The Terms are governed by the laws of England and Wales and you agree that any

disputes, which cannot be resolved by us, shall be decided by the English courts.

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